Serve Robotics Inc DE
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
SERV$3.11-8.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
Unaudited Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2024 and 2023
| Nine Months EndedSeptember 30, | ||||||
|---|---|---|---|---|---|---|
| 2024 · 2023 | ||||||
| Cash flows from operating activities: | ||||||
| Net loss | $(26,071,557) | $(17,750,350) | ||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
| Depreciation | 36,560 | 1,396,919 | ||||
| Stock-based compensation | 9,930,480 | 304,256 | ||||
| Amortization of debt discount | 1,677,942 | 816,715 | ||||
| Warrants issued with convertible note | - | 991,000 | ||||
| Change in fair value of derivative liability | 221,560 | 149,000 | ||||
| Change in fair value of simple agreements for future equity | - | 1,672,706 | ||||
| Interest on recourse loan | - | (2,797) | ||||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | (10,144) | 19,742 | ||||
| Inventory | 446,986 | (250,459) | ||||
| Prepaid expenses | (2,775,591) | (517,233) | ||||
| Escrow receivable | (180,000) | - | ||||
| Accounts payable | 1,556,149 | 782,454 | ||||
| Accrued liabilities | (110,870) | 129,481 | ||||
| Deferred revenue | 14,097 | - | ||||
| Right of use liabilities, net | (14,433) | (35,782) | ||||
| Net cash used in operating activities | (15,278,821) | (12,294,348) | ||||
| Cash flows from investing activities: | ||||||
| Purchase of property and equipment | (5,394,399) | (2,493) | ||||
| Net cash used in investing activities | (5,394,399) | (2,493) | ||||
| Cash flows from financing activities: | ||||||
| Proceeds from issuance of common stock pursuant to public offering, net of offering costs | 35,849,136 | - | ||||
| Proceeds from issuance of prefunded warrants to purchase common stock in connection with private placement, net of issuance costs | 17,115,963 | - | ||||
| Proceeds from exercise of warrants | 16,324,832 | - | ||||
| Proceeds from convertible notes payable, net of offering costs | 4,844,625 | 2,798,410 | ||||
| Proceeds from exercise of options | 86,755 | - | ||||
| Proceeds from note payable | 750,000 | |||||
| Repayments of note payable | (1,250,000) | (1,500,000) | ||||
| Proceeds from note payable, related party | - | 449,000 | ||||
| Repayments of notes payable, related party | (70,000) | (449,000) | ||||
| Issuance of common stock pursuant to Merger, net of offering costs | - | 10,026,258 | ||||
| Proceeds from simple agreement for future equity | - | 2,666,953 | ||||
| Repayment of lease liability financing | (1,321,714) | (1,658,359) | ||||
| Net cash provided by financing activities | 71,579,597 | 13,083,262 | ||||
| Net change in cash and cash equivalents | 50,906,377 | 786,421 | ||||
| Cash and cash equivalents at beginning of period | 6,756 | 2,715,719 | ||||
| Cash and cash equivalents at end of period | $50,913,133 | $3,502,140 | ||||
| Supplemental disclosure of cash flow information: | ||||||
| Cash paid for income taxes | $ | - | $ | - | ||
| Cash paid for interest | 62,494 | 258,256 | ||||
| Supplemental disclosure of non-cash investing and financing activities: | ||||||
| Conversion of convertible note and derivative into common stock | $6,803,600 | $ | - | |||
| Vested restricted stock purchased with recourse notes | $ | - | $10,302 | |||
| Derivative liability in connection with convertible note | $ | - | $601,000 | |||
| Debt discount issued as accrued liability | $ | - | $63,840 | |||
See accompanying notes to the unaudited condensed consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.